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"Searches carried during this phase of the investigation are a follow up to a previous operation in April 2019 when a total of ten motor vehicles, four Rolex Watches and €31,500 in cash were seized from the group.

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During the course of the searches - one Rolex watch, electronic storage devices, financial documents and a 181 registered Audi Q7 SUV were seized.

A garda spokesperson said: "A total of nine (9) searches were conducted across counties Limerick, Cork and Waterford. The searches included four (4) residential premises, one (1) business premises and three (3) professional premises (Accountants, Architects and a Motor Dealership).